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December 10, 2012
17:41 EDTXTEX, XTXICrosstex Energy begins Phase II of Cajun-Sibon NGL pipeline in Louisiana
The Crosstex Energy companies, Crosstex Energy, L.P. (XTEX) (the Partnership) and Crosstex Energy (XTXI) announced that the Partnership is proceeding with Phase II of the Partnership's Cajun-Sibon natural gas liquids, or NGL, pipeline extension and fractionator expansion in Louisiana. In addition, construction of Phase I of the project is underway and is expected to commence operations by mid-2013. The total capital investment for both phases of the project is currently estimated at $680M-$700M. The Partnership expects Phase II to have an annual run-rate adjusted EBITDA contribution of $75M-$85M. Phase II is expected to be completed in the second half of 2014.
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